What changed in this filing

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Item 1. Financial Statements

2025-08-13 compared with 2025-05-14 · 207 added, 175 removed, 233 unchanged (62% of the section changed)

2 unchanged sentences

CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF MARCH 31, 2025

AS OF JUNE 30, 2025

DUKE ROBOTICS CORP.

CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF MARCH 31, 2025

CONSOLIDATED FINANCIAL STATEMENTS:

Condensed Consolidated Interim Balance sheets as of March 31, 2025, and December 31, 2024

Condensed Consolidated Interim Statements of Comprehensive loss for three months ended March 31, 2025 and 2024

Condensed Consolidated Interim Statements of Stockholders’ Equity for the period of three months ended March 31, 2025 and 2024

Condensed Consolidated Interim Statements of Cash Flows for the three months ended March 31, 2025

to unaudited condensed consolidated financial statements

AS OF JUNE 30, 2025

CONDENSED CONSOLIDATED FINANCIAL STATEMENTS:

Unaudited Condensed

Consolidated Interim Balance sheets as of June 30, 2025, and December 31, 2024

Unaudited Condensed Consolidated Interim Statements of Comprehensive loss for six and three months ended June 30, 2025 and 2024

Condensed Consolidated Interim Statements of Stockholders’ Equity for the period of six and three months ended June

30, 2025 and 2024

Unaudited Condensed Consolidated Interim Statements of Cash Flows for the six months ended June 30, 2025 and 2024

Notes to unaudited condensed consolidated financial statements

_________________________________

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Common stock of US$ 0.0001 par value each (“Common Stock”):

100,000,000 shares authorized as of March 31, 2025 and December 31, 2024;

issued and outstanding 54,218,813 shares as of March 31, 2025 and December 31, 2024.

100,000,000 shares authorized as of June 30, 2025 and December 31, 2024;

issued and outstanding 54,218,813 shares as of June 30, 2025 and December 31, 2024.

Additional paid-in capital

Foreign currency translation adjustments

Accumulated deficit

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(USD in thousands, except share and per share data)

Six months ended

Three months ended

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Operating loss

Financing income, net

Financing income (expenses), net

Other comprehensive loss - Foreign currency translation adjustments

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(*) represents amount less than $1 thousand.

The accompanying notes are an integral part

of the condensed consolidated interim financial statements.

accompanying notes are an integral part of the condensed consolidated interim financial

DUKE ROBOTICS CORP.

2 unchanged sentences

(USD in thousands, except share and per share data)

Additional paid-

Foreign currency

stockholders’

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BALANCE AT MARCH 31, 2025

Additional paid-

Foreign currency

Share based compensation for services

Foreign currency translation adjustments

Net loss for the period

BALANCE AT JUNE 30, 2025

stockholders’

3 unchanged sentences

BALANCE AT MARCH 31, 2024

Share based compensation for services

Warrants modification

Net loss for the period

BALANCE AT JUNE 30, 2024

(*) represents amount less than $1 thousand.

The accompanying notes are an integral part

of the condensed consolidated interim financial statements.

accompanying notes are an integral part of the condensed consolidated interim financial

DUKE ROBOTICS CORP.

2 unchanged sentences

(USD in thousands, except share and per share data)

Three months ended

Six months ended

CASH FLOWS FROM OPERATING ACTIVITIES:

Loss for the period

Adjustments required to reconcile net loss for the period

to net cash used in operating activities:

Adjustments required to reconcile net loss for the period to net cash used in operating activities:

Stock based compensation

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Change in operating lease liabilities

Decrease in trade receivable

Decrease in other current assets

Loss from sale of property and equipment

Increase in trade receivable

Increase in other current assets

Increase in accounts payable

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CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT END OF PERIOD

(*) represents amount less than $1 thousand.

Supplemental disclosure of cash flow information:

Non cash transactions:

Acquisition of vehicle via non-cash trade-in.

The accompanying notes are an integral part

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DUKE ROBOTICS CORP.

(formerly UAS Drone Corp.) (“the Company”)

was incorporated under the laws of the State of Nevada on February 4, 2015.

On March 9, 2020, the Company closed

on the Share Exchange Agreement (as defined hereunder), pursuant to which, Duke Robotics, Inc.

(“Duke Inc.”) a corporation

incorporated under the laws of the state of Delaware, became a majority-owned subsidiary of the Company.

has a wholly-owned

subsidiary, Duke Airborne Systems Ltd.

(“Duke Israel,” and collectively with Duke Inc., “Duke”), which was formed

under the laws of the State of Israel in March 2014 and became the sole subsidiary of Duke after its incorporation.

On April 29, 2020, the Company, Duke

Inc., and UAS Acquisition Corp., a Delaware corporation and a wholly-owned subsidiary of the Company (“UAS Sub”), executed

an Agreement and Plan of Merger (the “Merger Agreement”), pursuant to which UAS Sub merged with and into Duke Inc., with Duke

surviving as our wholly-owned subsidiary (the “Short-Form Merger”).

Upon closing of the Short-Form Merger, each outstanding

share of UAS Sub’s common stock, par value $ 0.0001 per share, was converted into and became one share of common stock of Duke Inc.,

with Duke Inc.

surviving as a wholly-owned subsidiary of the Company.

Following the above transactions, Duke

Israel became a wholly-owned subsidiary of Duke Inc., which is a wholly-owned subsidiary of the Company.

On February 18, 2025, the Company established

Duke Robotics Hellas M I.K.E (“Duke Greece”), a wholly owned subsidiary, formed under the laws of Greece, to support the ongoing

global commercialization efforts of the Company’s Insulator Cleaning (“IC”) Drone system.

The Company (collectively with Duke

and Duke Greece, the “Group”) is a robotics company dedicated to developing an advanced robotics stabilization system that

enables remote, real-time, pinpoint accurate firing of small arms and light weapons as well as other civilian applications, with an emphasis

in the field of routine infrastructure maintenance.

The Company offers high-voltage insulator washing abilities using its innovative IC

Drone system.

This technology provides an efficient and safe method for cleaning high-voltage insulators, improving their performance,

enhancing safety, and reducing maintenance costs.

On October 28, 2024, the Company filed

a certificate of amendment to its Articles of Incorporation with the Nevada Secretary of State to change the Company’s corporate

name from UAS Drone Corp.

(formerly UAS Drone Corp.) (“the Company”) was incorporated under the laws of the State of Nevada

on February 4, 2015.

On March 9, 2020, the Company closed on the Share Exchange

Agreement (as defined hereunder), pursuant to which, Duke Robotics, Inc.

(“Duke Inc.”) a corporation incorporated under the

laws of the state of Delaware, became a majority-owned subsidiary of the Company.

has a wholly-owned subsidiary, Duke Airborne

(“Duke Israel,” and collectively with Duke Inc., “Duke”), which was formed under the laws of the

State of Israel in March 2014 and became the sole subsidiary of Duke after its incorporation.

On April 29, 2020, the Company, Duke Inc., and UAS Acquisition

Corp., a Delaware corporation and a wholly-owned subsidiary of the Company (“UAS Sub”), executed an Agreement and Plan of

Merger (the “Merger Agreement”), pursuant to which UAS Sub merged with and into Duke Inc., with Duke Inc.

surviving as our

wholly-owned subsidiary (the “Short-Form Merger”).

Upon closing of the Short-Form Merger, each outstanding share of UAS Sub’s

common stock, par value $ 0.0001 per share, was converted into and became one share of common stock of Duke Inc., with Duke Inc.

as a wholly-owned subsidiary of the Company.

Following the above transactions, Duke Israel became a wholly-owned

subsidiary of Duke Inc., which is a wholly-owned subsidiary of the Company.

On February 18, 2025, the Company established Duke Robotics

Hellas M I.K.E (“Duke Greece”), a wholly owned subsidiary, formed under the laws of Greece, to support the ongoing global

commercialization efforts of the Company’s Insulator Cleaning (“IC”) Drone system.

The Company (collectively with Duke and Duke Greece, the

“Group”) is a robotics company dedicated to developing an advanced robotics stabilization system that enables remote, real-time,

pinpoint accurate firing of small arms and light weapons as well as other civilian applications, with an emphasis in the field of routine

infrastructure maintenance.

The Company offers high-voltage insulator washing abilities using its innovative IC Drone system.

This technology

provides an efficient and safe method for cleaning high-voltage insulators, improving their performance, enhancing safety, and reducing

maintenance costs.

On October 28, 2024, the Company filed a certificate of

amendment to its Articles of Incorporation with the Nevada Secretary of State to change the Company’s corporate name from UAS Drone

to DUKE Robotics Corp.

effective as of November 4, 2024.

The Company’s Common Stock is

quoted on the OTC Markets Group, Inc.’s OTCQB® tier Venture Market, under the symbol “DUKR” (“USDR”

prior to November 4, 2024).

The Company’s Common Stock is quoted on the OTC Markets

Group, Inc.’s OTCQB® tier Venture Market, under the symbol “DUKR” (“USDR” prior to November 4, 2024).

DUKE ROBOTICS CORP.

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– GENERAL (continue)

In October 2023, Hamas terrorists infiltrated Israel’s southern border from the Gaza Strip and conducted

a series of horrific terrorist attacks on civilian and military targets.

Following the attack, Israel’s security cabinet declared

war and commenced a military campaign in Gaza against Hamas.

Since the commencement of these events, there have been additional active

hostilities, including military operations focused in southern Lebanon against Hezbollah, air force operations against the Houthi movement

in Yemen and multiple airstrikes in Iran, in response to Iranian missile attacks.

In October 2024, Israel began ground operations against

Hezbollah in Lebanon culminating in a 60-day cease fire agreed to between Israel and Lebanon on November 27, 2024.

On January 27, 2025,

the ceasefire between Israel and Lebanon was extended to February 18, 2025.

Following February 18, 2025, Israeli forces retained

control over strategic positions in southern Lebanon while seeking for diplomatic efforts to resolve the dispute.

While ceasefire agreements

have been reached in the past, there is no guarantee that the parties will succeed with complying with the terms of such agreements and,

accordingly, it is possible that these hostilities will resume with little to no warning and that additional terrorist organizations and,

possibly, countries will actively join the hostilities.

In October 2023, Hamas terrorists infiltrated Israel’s southern border from the Gaza Strip and conducted a series of horrific

terrorist attacks on civilian and military targets.

Following the attack, Israel’s security cabinet declared war and commenced a

military campaign in Gaza against Hamas.

Since the commencement of these events, there have been additional active hostilities, including

military operations focused in southern Lebanon against Hezbollah, air force operations against the Houthi movement in Yemen and multiple

airstrikes in Iran, in response to Iranian missile attacks.

In October 2024, Israel began ground operations against Hezbollah in Lebanon

culminating in a 60-day cease fire agreed to between Israel and Lebanon on November 27, 2024.

On January 27, 2025, the ceasefire between

Israel and Lebanon was extended to February 18, 2025.

Following February 18, 2025, Israeli forces retained control over strategic positions

in southern Lebanon while seeking for diplomatic efforts to resolve the dispute.

While ceasefire agreements have been reached in the past,

there is no guarantee that the parties will succeed with complying with the terms of such agreements and, accordingly, it is possible

that these hostilities will resume with little to no warning and that additional terrorist organizations and, possibly, countries will

actively join the hostilities.

Such clashes may escalate in the future into a greater regional conflict.

Due to the fact that most of our operations

are conducted in Israel and all members of the Company’s board of directors, management, as well as a majority of its employees

and consultants, including employees of its service providers, are located in Israel, the Company’s business and operations are

directly affected by economic, political, geopolitical and military conditions affecting Israel.

Although the current war has not materially

impacted the Company’s business or operations as of the date of this report, any escalation or expansion of the war could have a

negative impact on both global and regional conditions and may adversely affect the Company’s business, financial condition, and

results of operations.

On June 13, 2025, Israel launched Operation

“Rising Lion”, a direct military campaign targeting Iranian nuclear and military infrastructure in response to escalating threats

posed by Iran’s long-range missile deployment and intelligence reports indicating imminent coordinated attacks.

The United States

joined Israel in this military action.

A ceasefire between Israel and Iran was declared by the United States on June 24, 2025.

resulted in increased regional instability and led to the temporary shutdown of our operations in Israel for several days.

Given that the majority of the

Company’s operations are conducted in Israel, and that all members of the Company’s board of directors and management,

as well as most employees, consultants, and service providers, are located in Israel, the Company is directly affected by the

economic, political, geopolitical, and military conditions impacting the region.

As of June 30, 2025, the hostilities have not had a

material adverse effect on the Company’s overall business or operations.

However, the recent developments have caused

temporary disruptions, and may continue to have an adverse impact on certain business activities.

Any further escalation or

expansion of the conflict could negatively affect both regional and global conditions, and may adversely impact the Company’s

business, financial condition, and results of operations.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND BASIS OF PRESENTATION

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management, necessary for a fair statement of the financial condition, results of operations, changes in shareholders equity and cash

flows for three-months ended March 31, 2025.

flows for six-months ended June 30, 2025.

However, these results are not necessarily indicative of results for any other interim period

5 unchanged sentences

Actual amounts could differ from these estimates.

DUKE ROBOTICS CORP.

NOTES TO UNAUDITED CONDENSED CONSOLIDATED INTERIM

FINANCIAL STATEMENTS

(USD in thousands, except share and per share data)

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND BASIS OF PRESENTATION (continue)

These financial statements should be

5 unchanged sentences

statements, there have been no changes to the Company’s significant accounting policies.

DUKE ROBOTICS CORP.

NOTES TO UNAUDITED CONDENSED CONSOLIDATED INTERIM

FINANCIAL STATEMENTS

(USD in thousands, except share and per share data)

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND BASIS OF PRESENTATION (continue)

The accompanying unaudited

condensed consolidated interim financial statements are prepared in accordance with GAAP.

The unaudited condensed consolidated

interim financial statements of the Company include the Company and its wholly-owned and majority-owned subsidiaries.

inter-company balances and transactions have been eliminated.

The accompanying unaudited condensed

consolidated interim financial statements are prepared in accordance with GAAP.

The unaudited condensed consolidated interim financial

statements of the Company include the Company and its wholly-owned and majority-owned subsidiaries.

All inter-company balances and transactions

have been eliminated.

Use of Estimates

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Standards Board issued Accounting Standard Update No.

2024-03, Income Statement—Reporting Comprehensive Income—Expense

Disaggregation Disclosures Subtopic 220-40, “Disaggregation of Income Statement Expenses” which addresses requests from

investors for more detailed information about certain expenses and requires disclosure of the amounts of purchases of inventory, employee

compensation, depreciation and intangible asset amortization included in each relevant expense caption presented on the income statement.

This guidance is effective for annual reporting periods beginning after December 15, 2026 and interim reporting periods beginning after

December 15, 2027.

Early adoption is permitted and should be applied on a prospective basis, however retrospective application is permitted.

The Company is currently evaluating the impact of adopting this guidance on its Consolidated Financial Statements and disclosures included

within Notes to Consolidated Financial Statements.

2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation

Disclosures Subtopic 220-40, “Disaggregation of Income Statement Expenses” which addresses requests from investors for more

detailed information about certain expenses and requires disclosure of the amounts of purchases of inventory, employee compensation, depreciation

and intangible asset amortization included in each relevant expense caption presented on the income statement.

This guidance is effective

for annual reporting periods beginning after December 15, 2026 and interim reporting periods beginning after December 15, 2027.

adoption is permitted and should be applied on a prospective basis, however retrospective application is permitted.

The Company is currently

evaluating the impact of adopting this guidance on its Consolidated Financial Statements and disclosures included within Notes to Consolidated

Financial Statements.

DUKE ROBOTICS CORP.

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EVENTS DURING THE PERIOD

On March 23, 2025, a complaint was

filed against Duke Israel, by LOOL T.V.

(the “Plaintiff”), an Israeli company, in the Tel Aviv-Yafo Magistrate’s

The complaint asserts that pursuant to an agreement of principles between Duke Israel and the Plaintiff, Duke Israel is in breach

of the agreement, specifically with respect to an allegation that the parties were required to set up a partnership with respect to certain

services provided to the Israel Electric Corporation (the “IEC").

The complaint asserts a claim for breach of contract, unlawful

use of intellectual property that is not exclusively owned by Duke Israel and unjust enrichment with regards to the agreement of principles.

In addition, the Plaintiff’s complaint seeks an order for a permanent injunction to prevent Duke Israel from continuing providing

these services to the IEC, and an order to enforce the agreement of principles ordering Duke Israel to act as necessary to establish a

partnership or joint venture.

The Company believes that the allegations

On March 23, 2025, a complaint was filed against Duke Israel, by LOOL T.V.

(the “Plaintiff”),

an Israeli company, in the Tel Aviv-Yafo Magistrate’s Court.

The complaint asserts that pursuant to an agreement of principles between

Duke Israel and the Plaintiff, Duke Israel is in breach of the agreement, specifically with respect to an allegation that the parties

were required to set up a partnership with respect to certain services provided to the Israel Electric Corporation (the “IEC”).

The complaint asserts a claim for breach of contract, unlawful use of intellectual property that is not exclusively owned by Duke Israel

and unjust enrichment with regards to the agreement of principles.

In addition, the Plaintiff’s complaint seeks an order for a permanent

injunction to prevent Duke Israel from continuing providing these services to the IEC, and an order to enforce the agreement of principles

ordering Duke Israel to act as necessary to establish a partnership or joint venture.

The Company has filed a statement of defense against the complaint and believes that the allegations

are baseless and without merit and intends to vigorously defend Company’s rights.

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effect on its business, financial condition or results of operations.

No accrual was made in the financial statements as of March 31,

No accrual was made in the financial statements as of June 30, 2025

in respect of the above complaint.

On April 4, 2022, the Company signed a lease agreement for an office

space in Mevo Carmel Science and Industry Park, Israel for a term of 3 years, with an option to extend the term of the lease agreement

for an additional 2 years.

The monthly lease payments under the lease agreement, for the first two years are NIS 16.5 (approximately $ 4.6 )

and for the third year NIS 17.2 (approximately $ 4.8 ).

The monthly lease payments for the option period will be agreed between the parties,

with a minimum increase of 5 % above the third year monthly payment.

As of June 30, 2025, revenues include royalties for sales of the “Birds of Prey” stabilized

weapons drone systems, pursuant to the Company’s Collaboration Agreement with Elbit signed on January 29, 2021.

The Company analyzed

such revenues under ASC 606, Revenue from Contracts with Customers.

On March 24, 2025, the Company

and Elbit agreed to update the January 29, 2021 agreement, to expand the Collaboration Agreement to allow the Company to market the

stabilized weapons drone system technology that Elbit has been marketing and deploying under the brand name “Birds of

Prey” to military, defense, home-land security and para-military customers, in coordination with Elbit.

The Company will be

entitled to a commission fee, in the mid-single figure percentage range, from transactions resulting from its marketing activities,

in addition to the royalties the Company is entitled to receive as part of the original Collaboration Agreement.

On April 4, 2022, the Company signed a lease agreement for an office space in Mevo Carmel Science and Industry Park, Israel for a term of 3 years, with an option to extend the term of the lease agreement for an additional 2 years.

The monthly lease payments under the lease agreement, for the first two years are NIS 16.5 (approximately $ 4.6 ) and for the third year NIS 17.2 (approximately $ 4.8 ).

The monthly lease payments for the option period will be agreed between the parties, with a minimum increase of 5 % above the third year monthly payment.

Lease payment are linked to the Israeli Consumer Price Index.

property became available for Company’s use in February 2023.

Based on the lease agreement terms, the Company made a deposit of

$ 15 as a guarantee for its lease commitments.

The Company estimated at December 31, 2024, that it will utilize the 2 year extension option

under the above lease agreement.

The components of operating lease expense for the period ended March 31, 2025 and 2024 were as follows:

Three months ended

The property became available for Company’s use in February 2023.

Based on the lease agreement terms, the Company made a deposit of $ 15 as a guarantee for its lease commitments.

The Company estimated at December 31, 2024, that it will utilize the two years extension option under the above lease agreement.

The components of operating lease expense for the period ended June 30, 2025 and 2024 were as follows:

Six months ended

Operating lease expense

Supplemental cash flow information related to operating leases was as follows:

Three months ended

Cash paid for amounts included in the measurement of lease liabilities:

Operating cash flows from operating leases

Right-of-use assets obtained in exchange for lease obligations (non-cash):

Operating leases

DUKE ROBOTICS CORP.

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LEASES (continue)

Supplemental cash flow information related to operating leases was as follows:

Six months ended

Cash paid for amounts included in the measurement of lease liabilities:

Operating cash flows from operating leases

Supplemental balance sheet information related to operating leases was as follows:

March 31, December 31,

June 30, December 31,

Operating leases:

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Weighted average discount rate 8.75 % 8.75 %

Future minimum lease payments under non-cancellable leases as

of March 31, 2025 were as follows:

Future minimum lease payments under non-cancellable leases as of June 30, 2025 were as follows:

Total operating lease payments

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The following table presents the Company’s

stock option activity the three months ended March 31, 2025:

Exercise Price

stock option activity for the three months ended June 30, 2025:

Outstanding at December 31, 2024

Forfeited or expired

Outstanding at March 31, 2025

Number of options exercisable at March 31, 2025

The aggregate intrinsic value of the awards outstanding as of March 31,

2025 is $ 82 .

These amounts represent the total intrinsic value, based on the Company’s stock price of $ 0.183 as of March 31,

2025, less the weighted exercise price.

Outstanding at June 30, 2025

Number of options exercisable at June 30, 2025

The aggregate intrinsic value of the

awards outstanding as of June 30, 2025 is $ 72 .

These amounts represent the total intrinsic value, based on the Company’s stock

price of $ 0.161 as of June 30, 2025, less the weighted exercise price.

The stock options outstanding as of

March 31, 2025, have been separated into exercise prices, as follows:

June 30, 2025, have been separated into exercise prices, as follows:

Exercise price Stock

2 unchanged sentences

life – years Stock options

As of March 31, 2025

As of June 30, 2025

0.0001 450,000 0.73 450,000

5 unchanged sentences

Compensation expense recorded by the

Company in respect of its share-based compensation awards for the three months ended March 31, 2025 and 2024 were $ 10 and $ 15 , respectively.

These expenses are included in General and Administrative expenses in the Statements of Operations.

Company in respect of its share-based compensation awards for the six months ended June 30, 2025 and 2024 were $ 77 and $ 27 , respectively.

Share-based compensation awards for the three months ended June 30, 2025 and 2024 were $ 67 and $ 12 , respectively These expenses are included

in General and Administrative expenses in the Statements of Operations.

DUKE ROBOTICS CORP.

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Transactions and balances with related parties

Six months ended

Three months ended

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(i) Options to purchase 1,000,000 shares of Common Stock to Mr.

Balucka, CEO, at an exercise price of $ 0.21 per share, and vest in three equal installments of 33 % at the end of each year.

expire after six ( 6 ) years from the date of grant, and such other terms and conditions set forth in the 2021 Plan.

Yossef Balucka, CEO, at an exercise price

of $ 0.21 per share, and vest in three equal installments of 33 % at the end of each year.

The options expire after six ( 6 ) years from the

date of grant, and such other terms and conditions set forth in the 2021 Plan.

(ii) Options to purchase 500,000 shares of Common Stock to Mr.

Company’s CTO nominated at March 18, 2025, at an exercise price of $ 0.21 per share.

Vadim Maor, Company’s CTO nominated at

March 18, 2025, at an exercise price of $ 0.21 per share.

The options have the following vesting schedule:

33 % of the options will vest after 12 months and the remaining portion will vest in eight equal installments over eight quarters.

options expire after six ( 6 ) years from the date of grant, and such other terms and conditions set forth in the 2021 Plan.

33 % of the options will vest

after 12 months and the remaining portion will vest in eight equal installments over eight quarters.

The options expire after six ( 6 )

years from the date of grant, and such other terms and conditions set forth in the 2021 Plan.

DUKE ROBOTICS CORP.

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(iii) Options to purchase 120,000 shares of Common Stock to Ms.

Keren Gousman Golan, director at an exercise price of $ 0.21 per share and vest in three equal installments of 33 % at the end of each year.

Gousman Golan, director at an exercise price of $ 0.21 per share and vest in three equal installments of 33 % at the end of each year.

The options expire after six ( 6 ) years from the date of grant, and such other terms and conditions set forth in the 2021 Plan.

(iv) Options to purchase 400,000 shares of Common Stock to Mrs.

Alexandra Papaconstantinou, Managing Director of Duke Greece.

The options were granted at an exercise price of $ 0.21 per share and vest in three equal installments of 33 % at the end of each year.

The options expire after six ( 6 ) years from the date of grant, and such other terms and conditions set forth in the 2021 Plan.

Papaconstantinou, Managing Director of Duke Greece.

The options were granted at an exercise price of $ 0.21 per share and vest in three

equal installments of 33 % at the end of each year.

The options expire after six ( 6 ) years from the date of grant, and such other terms

and conditions set forth in the 2021 Plan.

(v) Options to purchase 50,000 shares of Common Stock to Mr.

Shlomo Zakai, CFO, at an exercise price of $ 0.21 per share, and vest in three equal installments of 33 % at the end of each year.

The options expire after six ( 6 ) years from the date of grant, and such other terms and conditions set forth in the 2021 Plan.

Shlomo Zakai, CFO, at an exercise price of $ 0.21

per share, and vest in three equal installments of 33 % at the end of each year.

The options expire after six ( 6 ) years from the date of

grant, and such other terms and conditions set forth in the 2021 Plan.

SEGMENT INFORMATION

The Company has one operating

and reportable segment, drone insulators washing activity.

The chief operating decision maker

evaluates segment performance primarily based on segment operating loss.

The Company has one operating and reportable segment, drone

insulators washing activity.

The chief operating decision maker evaluates segment performance

primarily based on segment operating loss.

The following table presents information

about the Company’s reportable segments for the three months ended March 31, 2025 and 2024.

The Company has not changed the composition

of its reportable segments since its last annual report.

about the Company’s reportable segments for the six and three months ended June 30, 2025 and 2024.

The Company has not changed the

composition of its reportable segments since its last annual report.

Six months ended

Three months ended

1 unchanged sentence

Cost of revenues from drones insulators washing

Other revenues

Research and development expenses

5 unchanged sentences

Interest income

For the three months ended March 31,

Other expenses

For the six months ended June 30,

2025 and 2024, the Company’s operations were mostly confined to Israel.

As of March 31, 2025 and 2024, all of the fixed assets of

As of June 30, 2025 and 2024, all of the fixed assets of

the Company were located in Israel.

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-Q

Item 1. Financial Statements